An appeaser is one who feeds a BHEAST, hoping it will eat him last.

RANGERS TAX CASE UNCOVERED THE “MAFIA” CONNECTION

On November 15 2015 former SPL C.E.O Roger Mitchell took to the internet to air his views about the Rangers EBT saga in a blog called

Hate is convenient to help forget how uncompetitive you really are.

The basic jist of it was that all the Rangers hating bigots should just move on and calls for stripping of Rangers titles should be left in the past.

Well to all those Rangers hating bigots who frequently contact me on my blog with sectarian venom and direct threats to the life of me and my immediate family I say don’t listen to this man hes been “got at”.

How else can you explain his 180 degree turn from this piece of excrement he shat out in a so called high market broadsheet on Wednesday 12 September 2012 entitled

Does Green actually buy this stuff?

Let’s take a look Some low-lights in this diatribe were

“Claim 3 The new owners purchased all the business and assets of Rangers, including titles and trophies.

Fact Green said on June 2012 that if his CVA proposal was to fail (which it did) and Rangers were to be liquidated (which they are), “the history, the tradition, everything that’s great about this club is swept aside”.

Therefore he admits he has not purchased titles and trophies. Sevco has no titles and trophies.”

Therefore he admits he has not purchased titles and trophies. Sevco has no titles and trophies.

By the way, Charles, I would not provoke commentators like me to dig this up, because what you said is not what the Rangers fans want to hear now, as you now correctly realise. Let it lie, Charlie, let it lie.

And

Did Rangers oldco gain unfair advantage by registering players on a basis where their full employment conditions were not declared to the SPL/SFA?

In my mind the answer is undoubtedly ‘yes’.

And

The SPL enquiry punishment doesn’t arouse great passion in me. And it shouldn’t either for Celtic fans. For them I’d argue the victory is in the fact that their greatest rival died.

The 125-year long struggle ended with the collapse of the adversary. The war was won. Achilles vanquished Hector.

He revisits this pish in his recent blog with the following.

I expressed my own view on the Rangers saga in 2012 in both press and media. As a Celtic fan, I enjoyed immensely the demise of that club, and concluded, also publicly, that I felt that my club had clearly emerged victorious from a 120 year struggle for supremacy in Scotland. The immigrant club had won, the institutional club lay dead, in this case carried away in a liquidator’s coffin. My schadenfreude was intense. God, I’m a normal fan.

For one I thought I was right in thinking Celtic was a club open to all so why would a so called intelligent man who once held one of the top jobs in Scottish Football drag up the immigrant club , supremacy and institutional club pish?

If after 125 years and one is still calling oneself an immigrant then I would suggest one does not want to assimilate into the host country or it justifies your fucking persecution complex you pull up when anyone reminds you of what a fucking cunt you are being!

Emotive talks of Immigrants, institutional clubs, coffins, laying dead, enjoying immensely the demise of that club, and wars chills me to my very marrow and it should fucking well chill you too.
And to think this disgusting, Rangers hating, Celtic-minded bigot held one of the highest position in Scottish Fitbaw.

Imagine if the roles where reversed and this was a Rangers fan saying this who once held the position of C.E.O of the SPL?

Fuck, imagine if it was just a lowly Referee?

The offended by everything ashamed of nothing I.R.A terrorism lovers would be on the blower greeting to Police Scotland and our tax paying money will be used for Police Scotland to go hunting around the world chinning people for having a fucking opinion just like Jeff Winters.

Anyway back to explaining Roger Mitchell’s 180 degree turn from this piece of excrement he shat out in a so called high market broadsheet on Wednesday 12 September 2012 to the why cant we all be friends of November 2015.

To explain this you have to realize that this wasn’t the first time the former SPL C.E.O brainfarted his Rangers hatred all over the internet.

I am reliable informed that Roger Mitchell was an avid contributor to the sectarian Rangers and British hating wank-fest that was the Rangers Tax Case Blog.

Under the alias of the mafia loving the Don Dionisio wee Roger let rip and made an arse of himself and that is why is why he has had the change of heart he has been found out.

Now the Don Dionisio was in my targets and Roger Mitchell along with opus dei member, Vatican and Scottish Roman Catholic church spin doctor Ronnie Convery where the 2 most likely candidates. Well the Cosa Nostra do say the Roman catholic church is the oldest and biggest racket in Italy their words not mine Police Scotland but if you want to do us all a favour please lock up organised crime for saying that.

Roger Mitchell likes to act the Gangster on the Rangers Tax Case but the sad truth in the cold light of day is that this Harry Potter look-a-likie couldn’t shake down 5 year olds of their play piece money!!!

Yes Roger is more Slytherin than Soprano, more Gryffindor than Goodfella, more Mudblood than Mafiso, more Hogwarts than Hitman

But in saying that there might be a part for Roger Mitchell to play in the under world that is the role of the informer.

As Roger wrote to his pal “Paulie Walnuts” with his HMRC inside man on the Rangers Tax Case blog on the 7/12/2011

Sicilian proverb:’ He who is deaf, blind and silent will live for a hundred years in peace’. The suspicion of being a ‘stool pigeon’ or a ‘cascitunni’ is considered the blackest mark against our code of honour, omerta, but just for old time’s sake, paisan, per piacere can you give us a nod-good or bad news and for whom?”

Wee Roger has ratted you all out!

The Black Knight dubiously named after Malta or Columba or both,

Paulie Walnuts with his HMRC insider!

The twat who names himself after a genocidal muslim war lord salah al din and a fucking Spanish inquisition fanatic from western Australia called Torquemada who claims to be good friends with Celtic Share Holder Irish Billionaire Denis O’Brien all you bastards will be having sleepless nights.

That’s why you Rangers hating bastards shouldn’t listen to Roger Mitchells latest blog continue on your bigoted quest to strip Rangers of their rightfully won titles on the park.

Roger Mitchell finally ended his 2012 diatribe with the words

For Scottish football, the days of enlightenment around the Tommy Burns funeral are long gone, and I fear the worst.

Maybe wee Roger Mitchell should have heeded his own words before he joined in head first in the sectarian Rangers hate-fest that was the Rangers Tax Case.

Its a shame because wee Roger was so important to the Rangers Tax Case that he even appeared in the the Rangers Tax Case football team named on admin day as follows

As I have said before that the Rangers Tax case blog witch-hunt went all the way back to the very top at Celtic park it now appears it goes all the way back to the top of Scottish Fitbaw itself.

All the Don Dionisio posts on the Rangers Tax Case blog are below and don’t worry there is more outed bigots to come.

The Case: Q & A 1 22 24558 22 11/11/2011 22:3:0 the Don Dionisio 17 1 “RTC,
As mentioned before, it is important to recall that the House of Lords dismissed the taxpayer’s appeal- (i.e the Revenue won and Dextra lost)-and it was held,broadly speaking, that no tax deduction is allowed to an employer who contributed to an EBT until emoluments are paid out by the EBT trustees .
Accordingly, it is not so much a case about disguised remuneration but rather a case about tax deductability.
It would never have been contemplated, when EBTs were first utilised, that they would become such a regular feature of extravagant avoidance. In the Dextra case, there were loans to employees running into millions of pounds each, and its easy to see why the Revenue and ultimately the Lords, found it unacceptable to afford the ‘sponsoring’ company an immediate deduction to tax, in circumstances where there was no ‘matching’ charge to tax in the hands of the employees.
That would have been a double whammy rubbing salt into the wound !
I wonder if Rangers put through any such tax deductions?
Be that as it may, we should recognise that the House of Lords held that, in the ordinary use of language, the whole of the funds paid to the trustee were potential emoluments because they could , in theory, be used to pay emoluments. More particularly, the amounts held by the trustee as intermediary were for the payment of emoluments upon a contingency, viz the exercise of a discretion by the trustee.
So, in the event, the HMRC did prevail with the argument that even if the sums might or might not be used to pay emoluments, there was at least a realistic prospect that they would be so paid as emoluments.
The important point is that it was decided that the trustee held the funds with a view to them becoming relevant emoluments.”

The Case: Q & A 1 32 24568 32 11/11/2011 22:31:0 the Don Dionisio 17 2 “Gwared,
No offence, but I was fortunate enough to be the victim of a first class old fashioned education in which dumbing down was unheard of !
I wouldn’t know where to start !
If you (or others) would like to research the case personally, I will be delighted to provide the reference.
However, I am certain you will find their Lordships’ language even more elitist than my own.
Please accept my humble apologies.”
The Case: Q & A 1 42 24579 42 11/11/2011 22:52:0 the Don Dionisio 17 3 “HMcE,
I am neither a decent? author nor a teacher, so I do not consider myself beholden to instruct others.
As you have said before yourself before, sir, every day is a school day, but I would recommend the efficacy of self-taught learning, particularly for adults.
My criticism was directed more towards fatuous modern day education where dumbing down is the order of the day and everyone gets a prize?”

The Case: Q & A 1 48 24585 48 11/11/2011 23:3:0 the Don Dionisio 17 4 “Gwared,
no problem.
The case is relevant because many commentators mistakenly refer to it as dealing with disguised remuneration or wages, when the Lords decided it was in no way disguised.
That was the point I was making about RTC’s description, as it was he who referred to the case.”
The Case: Q & A 1 49 24586 49 11/11/2011 23:5:0 the Don Dionisio 17 5 “HMcE,
Thanks, as always, old bean, for putting me right.”
The Case: Q & A 2 54 24591 4 11/11/2011 23:16:0 the Don Dionisio 17 6 “TBK,
Never a truer word spoken, but remember I am primus inter pares…….so enlightened I can’t do the wink thing !”
The Case: Q & A 2 77 24614 27 12/11/2011 0:10:0 the Don Dionisio 17 7 “TBK,
Sorry, but ‘a mans gotta know his limitations’ ?”

The Case: Q & A 2 83 24621 33 12/11/2011 0:32:0 the Don Dionisio 17 8 “LW,
@12.21a.m.
Though now demoted, I think with your learned colleagues on the bench it’s called profanity?”
The Case: Q & A 12 556 25132 6 14/11/2011 13:38:0 the Don Dionisio 17 9 “All too predictably, the succulent lamb chops propaganda/spin has begun:-Daily Mail today-
‘Are Rangers simply too big to fail?’-big block blue and white letters, followed by:-
‘Why tax decision could be win or bust for the future of Scottish game’, followed by a delightful Q&A written by dummies for dummies.
How come it didn’t bust the Scottish game in the 80s when they had Quintin Young and home crowds of about 5000, if memory serves me right?”

The Case: Q & A 12 577 25155 27 14/11/2011 14:28:0 the Don Dionisio 17 10 “john mailto:turkleton@1.59pm
Agreed, and your last sentence is surely dripping with irony?
Reading it is sticking in the throat, but the opening paragraph gives you a taster:-
‘…….three of Scotland’s most venerable institutions: the Bank of Scotland, the Royal Bank of Scotland and the Bank of Rangers’
I must have missed something? When did they incorporate as a Bank? or do we just call them ‘a Bank ‘ for convenience so that, having cheated the tax-man, they now get bailed out by the tax-payer !
Sounds suspiciously like reward rather than punishment for 10 years of wrongdoing.”
The Case: Q & A 12 592 25170 42 14/11/2011 15:22:0 the Don Dionisio 17 11 “No cracked crest in the Q&A section of the Daily Mail but a large image of an Alan Beresford B’Stard lookalike with the eyes of a rabbit caught in the headlights.
Substantively, the McGowan article is littered with inane dross, non sequiturs and patent inaccuracies, e.g:-
‘a legitimate tax avoidance scheme at the time….’
‘a period of horse-trading may delay a final verdict for some time yet’
‘if HMRC fail…..and they will barring a succesful challenge to the Football Creditor’s Rule in London…..’
‘Whyte….would have little option but to liquidate RFC and start a new club from scratch’
‘clubs have gone into administration, but never one as big or as key to our game as Rangers’
The question is -why don’t the SPL/SFA already have a ‘rule’ in place, just like UEFA, barring any newco from top-flight football for at least three years?…. including one ‘as key to our game’? Sounds sensible to me and many others. Why not to them?
This wiseguy/goodfella is gonna get a piece of the action on the horse-trading thing, and if any of those suckers steps out of line they will be whacked.”

The Case: Q & A 14 660 25241 10 14/11/2011 20:55:0 the Don Dionisio 17 12 “How can it be said that an entity which can be acquired for the standard price at your local Poundland ‘is too big to fail’?
Or perhaps the MBB intends to usurp the business battle cry of Poundland’s Chief Exec, i.e-‘ We are perfectly positioned for the flight to value’?”
The Case: Q & A 15 716 25298 16 14/11/2011 22:37:0 the Don Dionisio 17 13 “The Scotsman article of May 2010, astutely unearthed by TBK, says they had the assessment for the big one before the date of the article—otherwise there would have been no such report-and it must be true because the Scotsman said so?
End of….irrespective of what the accounts said or what ‘provision’ was or was not made therein.
They even quote the usual mysterious ‘Ibrox source’ who laments a ‘desperate situation’. End of………
Finally, they express the strong desire to identify a ‘new billionaire owner’ who will take care of the big one.
Well, they’ve found him. End of………?”

The Case: Q & A 15 732 25314 32 14/11/2011 22:57:0 the Don Dionisio 17 14 “TBK,
no, when I said ‘astutamente’, I meant it. Being a wiseguy, I always mean what I say.( Funny face ..winking thing..)”

The Case: Q & A 15 745 25328 45 14/11/2011 23:24:0 the Don Dionisio 17 16 “Irrespective of who said what, when and other idle speculation, as TBK pointed out Bain admits in the Scotsman article of May 2010 that they already had the assessment for the big one.
Therefore they knew about it, creative accounting or otherwise.”

The Case: Q & A 28 1397 26014 47 16/11/2011 18:39:0 the Don Dionisio 17 17 “The blog has lost its raison d’etre a bit. So allow me to digress?
I have some good advice for the tax man and other creditors on how to get their money.
I’ll arrange an introduction to the MBB, in camera, with my paisan Paulie Cicero who the MBB will take on as a silent partner.
Now, the guy’s got Paulie as a partner. Any problems he goes to Paulie. Trouble with the bill? He can go to Paulie. Trouble with the cops, deliveries, Tommy, he can call Paulie. But now the guy’s gotta come up with Paulie’s money. Every week. No matter what.
Business bad? F… you, pay me.
Oh, you had a fire? F… you, pay me.
Place got struck by lightning,huh? F… you, pay me.”
The Case: Q & A 29 1405 26022 5 16/11/2011 19:0:0 the Don Dionisio 17 18 “LW, Your Lordship, FFS it’s ‘capisce’ , don’t step out of line again, right?”
The Case: Q & A 31 1536 26156 36 16/11/2011 22:57:0 the Don Dionisio 17 19 “Campsiejoe et al,
Look, it’s obvious what RTC is saying.
‘There are negotiations going on which will answer all of your questions and solve all of your problems.
After we make the move to Nevada……that’s all I can tell you right now……..'”
The Case: Q & A 31 1540 26160 40 16/11/2011 23:12:0 the Don Dionisio 17 20 “mailto:TBK@10.31p.m.,
Or ‘Verbal’ Kint?”

UEFA License: Rangers to appeal ‘wee bill’ 2 79 29817 29 2/12/2011 20:56:0 the Don Dionisio 44 1 “A vexatious litigant?…hmmm….who da thvnk it?”
‘Sources close to Whyte’ in economical with truth shocker! 8 382 30449 32 4/12/2011 17:43:0 the Don Dionisio 83 1 “Very well said Torquemada @1.33 -(nobody ever expects the Spanish Inquisition ! )-and john turkleton @4.26.
Town criers’ spin, lies and bigotry are all very much germane to the thrust of this blog.
Sono molto d’accordo con voi due.”
‘Sources close to Whyte’ in economical with truth shocker! 9 450 30519 50 4/12/2011 22:15:0 the Don Dionisio 83 2 “Billy Boy Dodds, with an impeccable turn of phrase, suggests Aluko ‘has got to take a look at himself’.
Pray tell, how will that help?”
‘Sources close to Whyte’ in economical with truth shocker! 13 601 30694 1 5/12/2011 22:8:0 the Don Dionisio 83 3 “Paulie,
In relation to the appeal of the small tax bill, which can only be regarded as vexatious on any view, what form do you think the appeal is taking?
Unless I am missing something,there are only 2 possibilties,surely, viz:-
1.It is an another FTT appeal, but given (a) the previous admission that the debt was due (b) the significant delay in lodging the appeal and (c) the fact that HMRC has already effected an arrestment in execution in respect of the debt, I would expect such an appeal to be summarily rejected.
2. It is a note of objection pursuant to the BAD Act which I think must be lodged within the 14 week period and must point to some procedural irregularity or provide evidence that the arrestment was/is ‘unduly harsh’ to the debtor. Nowhere in the Act can I find any assistance as to what may or may not constitute undue hardship-another model of clarity in parliamentary draftsmanship?
If it is 2., which I can only conclude it can be, we would expect to see an application to the Sheriff for a hearing but I can see no evidence of that yet trawling through the Court Rolls.
I would welcome your view, but if you have nothing to add on the substantive legal position, perhaps you may have heard something about this ‘appeal’ on the rumour mill?”
‘Sources close to Whyte’ in economical with truth shocker! 13 613 30706 13 5/12/2011 22:44:0 the Don Dionisio 83 4 “And Paul mailto:Mc@10.34, he (the MBB) has already driven a coach and four through ‘the terms of the acquisition’, so for someone else to suggest to you that he is even paying lip service to those terms is simply naive.”

‘Sources close to Whyte’ in economical with truth shocker! 13 636 30729 36 5/12/2011 23:41:0 the Don Dionisio 83 6 “Over 95% of the share capital is required to convert to a private limited company.”

‘Sources close to Whyte’ in economical with truth shocker! 13 640 30733 40 5/12/2011 23:47:0 the Don Dionisio 83 7 “Hugh mailto:Mc@11.43,
prego, signore.”
‘Sources close to Whyte’ in economical with truth shocker! 17 803 30907 3 6/12/2011 19:6:0 the Don Dionisio 83 9 “mailto:Barcabhoy@6.58,
I had nothing to do with it, Barcabhoy, I swear on Fredo’s life.”
‘Sources close to Whyte’ in economical with truth shocker! 21 1016 31126 16 7/12/2011 19:52:0 the Don Dionisio 83 10 “Given his ‘previous’ the MBBCW has no intention of holding an AGM nor honouring any of his other responsibilties, legal, moral or otherwise.
There is a question on the application form for a waiver of visa for anyone intending to visit the USA,(‘ETA’ from memory), which goes along the lines of, viz:-
‘Have you ever been convicted of moral turpitude?’
In our politically correct non-judgemental island where ‘morality’ is an alien concept, indeed a dirty word not to be mentioned or discussed, such a question would be unimaginable.The yanks still obviously pay lip service to ethics, however, albeit we can all guess the MBB’s predictable mendacious retort in the negative.
As to the sum arrested of £2.3m, either he will appeal the assessment, albeit late, with HMRC, probably to another FTT, or he will lodge a note of objection with the Sheriff Court within the 14 week period which will shortly expire. Or he could do both. Time will tell.”
‘Sources close to Whyte’ in economical with truth shocker! 22 1059 31170 9 7/12/2011 22:34:0 Paulie Walnuts 116 14 “liveinhope (& others),
There has been some eye-popping gossip doing the rounds about the identify of the mystery backers. Suffice to say that it would be major front page news if true and in the public domain. RTC, rightly in my view, has made it clear that though he is aware of it he can’t verify it at all and so will not mention it. He has also asked posters not to repeat it on here, and has made clear that if it is repeated he cannot undertake to maintain the anonymity of the poster.”
‘Sources close to Whyte’ in economical with truth shocker! 22 1084 31196 34 7/12/2011 23:14:0 the Don Dionisio 83 11 “mailto:Paulie@10.34,
Sicilian proverb:’ He who is deaf, blind and silent will live for a hundred years in peace’.
The suspicion of being a ‘stool pigeon’ or a ‘cascitunni’ is considered the blackest mark against our code of honour, omerta, but just for old time’s sake, paisan, per piacere can you give us a nod-good or bad news and for whom?”
The Sensational Sun 16 769 32057 19 11/12/2011 18:36:0 the Don Dionisio 147 1 “Look there is nothing difficult or sublime here. We have been over this ground time and time again since March-or at least the old lags have. If RFC lose the FTT in January in the order of the huge sum talked of by RFC then its Armageddon for RFC (at least as we know them). It may not happen until some months after or at the end of season depending on when the FTT ruling is released, but happen it will.
Thereafter, if he is an asset stripper he will cut and run with his profit having appointed a Receiver to recover his inflated racked-up debt under the floating charge, stuffing the taxman.
That’s what wide boys do.
Alternatively, he will still cut and run, stuffing taxman, but he (and/or others , his ‘mystery backers’) will set up phoenix newco RFC 2012 Ltd, and yes , your’e right they will survive, ‘but not as we know them, Jim’.
Treble wide boys do this all the time. Its not novel , deep or even cunning. All it takes is someone amoral and unscupulous with no regard for anyone but himself and to hell with HMRC, suppliers, employees,creditors, etc., etc.
SDM is of the same wide vintage just more devious and less obvious. Didn’t he bring down Airdrie? He had no choice in who he could sell to. He had to sell for a £1 so reputation or credibilty of his successor doesn’t figure. Both he and Lloyds were desperate.
Difference is ,reputationally, MBBCW has a considerably bigger brass neck and ‘ cheek’. You need that in the vulture capitalist turnaroud business.SDM has a reputation (of sorts) to protect in Edinburgh (and Monaco?) .
The big recent disappointment for me is that MBB has managed to delay a proof before answer for a whole year in the One Stop Roofing case-doesn’t say much for the litigation specialism of my former profession, but then again that’s why I was never a litigator !”

The Sensational Sun 16 771 32059 21 11/12/2011 18:42:0 the Don Dionisio 147 2 “‘Unscrupulous’ that is, and, yes, it appears that all the old lags are calling it right again !”
The Sensational Sun 16 772 32060 22 11/12/2011 18:50:0 the Don Dionisio 147 3 “‘turnaroud’??= ‘turnaround'”
The Sensational Sun 16 776 32065 26 11/12/2011 19:8:0 the Don Dionisio 147 4 “BRTH,
Many thanks for your valuable insight in the nuances of delaying justice in the Courts. I would stop short with your comparison with Fergus, however, he truly was a saviour.”
The Sensational Sun 19 901 32198 1 12/12/2011 13:40:0 the Don Dionisio 147 5 “Torquemada @6.14am
Lex parsimoniae, in other words.
But did you have resort to the razor before you retired as leader of the Spanish Inquisition? I agree entirely about the absurdity of the suggestions by veritas and others, which you will note I dealt with, also 3 pages back.”

Rangers’ Working Capital Facility Letter Disclosed 1 41 32287 41 12/12/2011 20:46:0 the Don Dionisio 29 1 “RTC-
Quite a find once again !
I won’t enquire where you got it but it looks suspiciously like a legally binding side letter or back lettter from a lever arch file containing the entire SPA and associated supporting documentation.
I say ‘legally binding’, tongue in cheek, because it is precisely the opposite, purely cosmetic as you surmise, totally unenforceable if the MBB so unilaterally chooses.
The witness to what appears to be the MBB’s signature is a one Robert Max Spelman, an associate with D&W, who are MIH’s lawyers. I am surprised they would lend their name to what is ostensibly window dressing but presumably they gave SDM a suitable ‘CMA letter’-as we say in the legal profession-warning him as to the enforceability thereof-or rather lack of !!
(As if he needed telling……………?)”
Rangers’ Working Capital Facility Letter Disclosed 1 48 32294 48 12/12/2011 21:3:0 the Don Dionisio 29 2 “mailto:PW@8.55,
And the fact he paid the princely sum of £1 obviously reinforced his already considerable negotiating clout in determining the governing law and jurisdiction !?”

Rangers’ Working Capital Facility Letter Disclosed 2 75 32325 25 12/12/2011 22:39:0 the Don Dionisio 29 6 “RTC,
My post of 9.15 was written in response to one from you shortly after 9.00 pm.
Yours seems to have vanished into the ether.
Burying evidence takes omerta to a new and unexpected level??”
Rangers’ Working Capital Facility Letter Disclosed 6 300 32567 50 13/12/2011 20:37:0 the Don Dionisio 29 7 “PW@ 8.30,
It’s definitely, McBobs acting for One Stop.
I know about their corporate and commercial property departments, but how do they stack up in commercial litigation?”
Rangers’ Working Capital Facility Letter Disclosed 7 308 32575 8 13/12/2011 20:52:0 the Don Dionisio 29 8 “Strange and somewhat ironical it’s McBobs acting for the pursuer, One Stop.
Many years ago it was common knowledge they acted for Rangers and their then owner John Lawrence and family/ group.
Rumour had it that the code to their safe or vault was ‘1690’.
Just a wild allegation ,mind………………………………………….”

Rangers’ Working Capital Facility Letter Disclosed 11 520 32792 20 14/12/2011 19:0:0 the Don Dionisio 29 9 “Paulie mailto:Walnuts@12.42,
‘He’s absolutely first class…not a shouter or theatrical…clever, careful, thorough,relentless, remorseless..’
I honestly thought you were describing yours truly at the height of my powers before I retired ! (Lol).
mailto:Torquemada@1.15,
Why don’t you just capture the glib and shameless liar (mark 2 version), stretch him a bit on your rack, and shirley he will immediately recall the rationale behind his disqualification!?”

Rangers’ Working Capital Facility Letter Disclosed 11 539 32812 39 14/12/2011 19:44:0 the Don Dionisio 29 10 “P.S. Torquemada,
If you’re not up for the job of stretching the glib and shameless one on the rack, don’t forget I can provide a ‘soldato’ (soldier), festooned with a garrotta, and he will gladly take care of business for you………
…………..so long as you ‘remember that, some day, and that day may never come, I may call upon you to do me a service……..’
Lord Wobbly,
‘Blowin’ in the wind’?”

Rangers’ Working Capital Facility Letter Disclosed 24 1188 33524 38 20/12/2011 14:21:0 the Don Dionisio 29 14 “Referees, whatever the apparent, and I say apparent, complexion and derivation of their surnames, should not have a ‘team’ to betray.
That’s the point—they’re supposed to be completely independent and unbiased.
If such an ilk don’t exist in ‘the best wee bigotted’, then let’s draft them in from abroad. It’s been done successfully before during the ‘strike’ by the patently biased, useless, incompetents you seek to defend.The catalyst for the strike was the minority daring to call into question their neutrality, competency and independence.
RTC, in common with others, I suggest it’s time you barred the obvious trolls instead of the word ‘paranoid’.”

Rangers’ Working Capital Facility Letter Disclosed 24 1196 33532 46 20/12/2011 14:53:0 the Don Dionisio 29 15 “Mark,
re the 42 clubs that’s not bias, that’s just huge incompetence—the two are not mutually exclusive.
To suggest otherwise is as laughable as to suggest, as someone has just done here, that he ‘knows’ which of the referees are Celtic supporters. At least one on his list is not.
In a question between the Old Firm, and only the old Firm, history, statistics and common sense all point universally to institutional bias against Celtic.”

Rangers’ Working Capital Facility Letter Disclosed 25 1207 33543 7 20/12/2011 15:21:0 the Don Dionisio 29 16 “CO,
Your comments are redolent of , and demonstrate, the obvious bias Celtic supporters complain of, and well before ‘your lifetime’.
Typical nothing to see, just move along.
To know and recognise bias you have to consistently be on the receiving end of it, and therein lies the difference !”

Rangers’ Working Capital Facility Letter Disclosed 25 1215 33551 15 20/12/2011 15:31:0 the Don Dionisio 29 17 “RTC,
acknowledged, although you did opine that ‘to expect impartiality would be foolish’.
Impartiality suggests absence of bias and given the lap top loyal’s record, lambasted by yourself, I respectfully suggest that bias is inextricably linked to the blog, albeit indirectly and perhaps tenuously.
However, let’s leave it there and hope there is no further provocation by some who say it doesn’t exist !”

Rangers’ Working Capital Facility Letter Disclosed 25 1224 33564 24 20/12/2011 15:51:0 the Don Dionisio 29 18 “RTC,
Thanks, and understood.
Do you have any idea what happened with the alleged appeal against the small tax bill?
I asume,not having heard anything further, that the funds are still either subject to the arrestment or have been paid to HMRC?
There has been nothing to suggest that the arrestment has been uplifted/removed?”
Rangers’ Negotiations With HMRC: The Truth Is In There 4 152 33867 2 21/12/2011 20:36:0 the Don Dionisio 75 1 “And the clause wasn’t written by -‘a primary school pupil’?
It was drafted (or at worst revised) by Dundas & Wilson, the leading ‘establishment’ corporate law firm in Scotland and, much as it pains me to say it, they rarely if ever get it wrong.
The clause is quite clear to me, if not the ultimate model of clarity, but then no clause ever is standing the respective negotiating strengths of the parties and the other particular nuances, desiderata of the deal etc
( I made it clear to the MBB, however, that either his signature or his brains would be on the contract)”
Rangers’ Negotiations With HMRC: The Truth Is In There 7 340 34069 40 22/12/2011 20:18:0 the Don Dionisio 75 2 “TBK/HMcE,
Wavetower took an assignation of the old floating charge to BoS from LLoyds for somewhere north of £14m, the consensus being that the google eyed one bought the £18M debt at a discount.
The beauty was it was an old floater granted in the eighties, meaning (a) you could still appoint a Receiver as the new creditor to whom it was assigned and, perhaps as important (b) it would not be vulnerable to challenge as a voidable floating charge, which would have been the case had Wavetower received a brand new floating charge from RFC, which was then shortly followed by an insolvency event.
So far so good. If a foreign bank has lent, what security did it get? He could assign the floating charge again to Qatari, or whomsoever, but that would leave him out of the loop, unsecured and exposed to the foreign bank who could call the shots as new floating charge holder. Unlikely?
You can’t grant a charge over a floating charge ,though it is possible to grant a standard security over a standard security (i.e a fixed charge over a fixed charge) but I won’t bore you with that. These are not too popular with the Keeper of the Registers anyway.
I suppose it’s possible RFC could grant a standard security over Ibrox i.f.o foreign bank, as my previous research disclosed, surprisingly, no such fixed charge over Ibrox to anyone (i.e it remains, to the best of my knowledge, uncharged)
However, that standard security would rank after Wavetower’s floating charge, as it would have to in order to leave the MBB, in the shape of Wavetower, in pole position. Such a second ranking security,therefore,would be pretty worthless.
So, did they lend unsecured? I think not.”
Rangers’ Negotiations With HMRC: The Truth Is In There 7 346 34075 46 22/12/2011 20:39:0 the Don Dionisio 75 3 “Should someone not be drawing that ‘tinypic’ to the attention of Sergeant Eddie of Strathclyde’s finest, Michel Platini, UEFA, the SNP, the Israeli Govt etc etc?”

Rangers’ Negotiations With HMRC: The Truth Is In There 8 351 34080 1 22/12/2011 20:51:0 the Don Dionisio 75 4 “TBK
Buonasera,
Agreed, you may well be right ,but that would have meant Lloyds would have been seen to have been responsible for the demise of the hvn and the google eyed one is naturally greedy for instant profit, so buying the debt at a discount makes more sense to me.”
Rangers’ Negotiations With HMRC: The Truth Is In There 8 357 34087 7 22/12/2011 21:3:0 the Don Dionisio 75 5 “An anti-German song? You mean in addition to anti-Irish songs? What next? Surely a matter for PC plod Mr Eddie?(smiley winking stoopid looking face)”
Concern About Rangers As A Going-Concern? 11 528 35898 28 1/1/2012 14:34:0 the Don Dionisio 112 1 “tenerifetim @8.50pm, 31/12,
Being a member of that noble and august profession of wartime consigliere, I have no requirement to explain myself to anyone ! (smiley winking face)
Buon capodanno a tutti !”
Concern About Rangers As A Going-Concern? 11 535 35910 35 1/1/2012 15:42:0 the Don Dionisio 112 2 “Adam, Ian F.,corsica, et al,
Leave the gun, take the cannoli.”
Concern About Rangers As A Going-Concern? 15 730 36113 30 2/1/2012 16:8:0 the Don Dionisio 112 3 “mailto:droid@1.22,
Excellent find of a ‘precedent’ of RFC plc v. HMRC before the Tax Tribunal in June 2005.
Although not analogous—(the case concerned players’ /club’s agents’ fees)—the case serves as a salutary warning of the Revenue’s abject, miserable and incompetent performances before the courts and tribunals, especially within the last decade. This was something I repeatedly brought to the attention of contributors on here during the early life of this blog in relation to the Football Creditors’ Rule, albeit the Rule has no application in Scotland.
My point was that HMRC had consistently failed to cover itself in glory and, indeed, had taken several recent severe ‘beatings’ at the hands of many football club ‘taxpayers’ in relation to the Rule.
Beatings whch are all the more incomprehensible given that the Football Creditors’ Rule isn’t even law, indeed it’s just a convention afforded far too much respect by HMRC and others, and one which blatantly flouts and runs contrary to existing insolvency law in giving the football creditor an ‘illegal’ preference.
Contrary to what some believe on here this doesn’t require a change in the law to defeat the application of the Rule. Rather it simply requires that HMRC properly,adequately and competently present a foolproof case enabling the judge(s) to properly give effect to proper and reasonable legal arguments enabling them to disapply the Rule. Shouldn’t be too difficult, given the Rule has no legal force !!
And yet the Revenue have consistently failed to get it right—-let’s hope they finally do so at the current appeal re the Rule before the Supreme Court, not to mention the Big Tax case, albeit the points at issue are different !
Tha case highlighted by droid is worth some detailed study if only to see some evidence of HMRC’s abject and disgraceful performance in belatedly withdrawing substantial assessments as a result of which they were heavily criticised by the Tribunal and RFC were awarded punitive expenses.
This is why I have repeatedly warned people on our supporters’ bus against schadenfreude, and I now repeat that warning here.”
Concern About Rangers As A Going-Concern? 15 736 36119 36 2/1/2012 17:12:0 the Don Dionisio 112 4 “RTC,
i wholeheartedly agree and readily admit that the substance of the cases are massively different. I also bow to your superior knowledge of the specifics.”

Concern About Rangers As A Going-Concern? 15 749 36132 49 2/1/2012 17:47:0 the Don Dionisio 112 5 “mailto:Auldheid@5.27,
no problem. My late father who, surprisingly, was of Italian extraction was brought up in Calton, although he never introduced me to that particular terminology !
More like, ‘Leave the gun, take the cannoli’ or Italian equivalent.”

Concern About Rangers As A Going-Concern? 18 875 36266 25 3/1/2012 0:4:0 the Don Dionisio 112 6 “Onand (x3),@11.38pm,
What you and His Lordship must understand is that the Don doesn’t do wee smiley faces.
My cheeks were filled with cotton wool for the audition, and a mouthpiece was created by a dentist for actual filming !”

Concern About Rangers As A Going-Concern? 20 985 36378 35 3/1/2012 14:24:0 the Don Dionisio 112 7 “BBC at lunchtime had dougie dougie vipond touting ‘another forgotten Son……… ‘—- (of Willyem??) for a recall. The redoubtable fleckinho!
And they complained of bias!
Plus ca change, plus c’est la meme chose.”
Concern About Rangers As A Going-Concern? 22 1074 36478 24 3/1/2012 18:35:0 the Don Dionisio 112 8 “On re-visiting the tax tribunal case, unearthed by droid, of RFC v HMRC June 2005, I was struck by the curious opening descriptive gambit of the leading judge, viz:-‘The Appellants are a famous Scottish Premier League Football Club’.
When the current tribunal resumes, and is finally done and dusted, I wonder if the leading judge might not resort to more revisionist, albeit factual, language, viz:-‘The Appellants are an infamous Scottish Premier League Club’ ?
(wee smiley yellow winking face supplied courtesy of LW or TBK as the Don doesn’t do those).
PS to droid, don’t be reading too much more of Erskine’s Institutes, you could go blind !”

Concern About Rangers As A Going-Concern? 22 1089 36493 39 3/1/2012 19:12:0 the Don Dionisio 112 9 “mailto:HMcE@6.37,
Yes the parties to the Tribunal case will I think be anonymous as the case is, quite scandalously in my view , being heard in private, as you say. It should not be too difficult to identify the dramatis personae however and in particular the infamous SPL Club.
By the way, was that anecdote about the nine year old watching from his window all the other weans playing happily outside , from personal experience? Thing is, you could so easily be ostracised by referring to members of the noble and learned professions as rogues,parasites and charlatans ?! …..(several smiling, winking yellow faces courtesy of LW or TBK as the Don doesn’t…….)
In the interests of pax vobiscum remember I have now retired quietly to a part-time consultancy as a humble (very humble) war-time consigliere !”
Concern About Rangers As A Going-Concern? 23 1106 36510 6 3/1/2012 19:27:0 the Don Dionisio 112 10 “HMcE @7.23,
Signore,
Pax vobiscum….et cum spiritu tuo.”
Concern About Rangers As A Going-Concern? 23 1133 36537 33 3/1/2012 19:58:0 the Don Dionisio 112 11 “Arfur F@ 7.32,
‘He came. He saw. He paid no cvnt’. I like that.
I’ve said it before so I’ll say it again. Am gonna introduce him to my paisan Paulie. Now the guy’s got Paulie as a partner. Any problems he goes to Paulie. Trouble with the bill? He can go to Paulie. Trouble with the cops, deliveries, with Timmy, he can go to Paulie. But now the guy’s gotta come up with Paulie’s money every week, no matter what.
Business bad? F… you, pay me.
Oh, you had a fire? F…you,pay me.
Place got struck by lightning? F… you, pay me.
Falling masonry? F…you,pay me.”
Concern About Rangers As A Going-Concern? 24 1152 36557 2 3/1/2012 20:25:0 the Don Dionisio 112 12 “Paul Mc / TBK,
What about the unjust goodfella??
TBK and /or LW. Apologies for plagiarising your briliant line about ‘Falling masonry’ !”

Concern About Rangers As A Going-Concern? 36 1784 37234 34 5/1/2012 18:55:0 the Don Dionisio 112 13 “There has been a smidgeon of disinformation/inaccuracy/misunderstanding recently as to how CW will secure his exit strategy. At the risk of repeating myself, this will be via receivership rather than administration, albeit using a newco. This is because the Receiver owes no duties to anyone other than his appointing floating chargeholder creditor. Why then opt for an administrator who owes duties to the general body of creditors? As I’ve pointed out before, this exit is achieved through ‘hive-down’.
What then is a hive-down?
• A hive down is a form of reorganisation of a company whereby a business or businesses are transferred to a subsidiary company. It is a common restructuring technique whereby the profitable parts of a business, or valuable assets of an existing company are transferred or hived down to a newly formed subsidiary of that company
• It is the simplest possible form of company reconstruction. A company in formal insolvency proceedings will sell its business ‘ for a monetary price or shares – to a wholly owned subsidiary which does not have the burden of the liabilities incurred by the original company. It is then possible for the new company to be transferred or sold to the creditors as part of a voluntary arrangement.
• The old company will be left with its historical debt & the new company will have assets & a clean balance sheet.
• As soon as the old company has completed its restructuring it will own all the shares in the new company. These will have been issued at a value which is representative of the assets which it transferred to the new subsidiary company.
• The new company will be protected from the risks & liabilities of the original business following the hive down. This means that if the original company later goes into liquidation its creditors will have no claim on the assets of its new subsidiary.
• There is less risk of the valuation regarding the transfer of assets to the new company from the old being challenged in a hive down than with other options, & this is one of the main advantages of using this process.
• The main disadvantage of a hive down is that as the old company will remain a shareholder of the new, if the old company went in to liquidation, the liquidator would control that shareholding & thus also the new company.
• The process of hive down is therefore mainly used as an interim measure in order to protect the major assets of the original company prior to their transfer either to a third party or another company belonging to the parent company owner/s. In effect it allows the ultimate purchaser to acquire a ‘clean’ company which does not come with any bad history or unforeseen risks & liabilities.
• This method of reorganisation may also be used to preserve the benefit of trading losses in the original company.
All perfectly legal and done all the time. Whether it is fair and reasonable, and people like it or not, is another matter but my concern is solely with the black letter law.”
Concern About Rangers As A Going-Concern? 36 1794 37246 44 5/1/2012 19:13:0 the Don Dionisio 112 14 “TBK,
more like a hoe-down, I surmise.
And jean, no problem, but shysters is a tad disparaging, though you may well be right when applied to the Whyte men !!”
Concern About Rangers As A Going-Concern? 37 1801 37253 1 5/1/2012 19:20:0 the Don Dionisio 112 15 “HMcE,
it’s specifically a receiver’s hive down, so there is no administration nor CVA involved, at least at that stage.
What happens thereafter to oldco, when CW or his alter ego or mystery backers have secured their exit strategy, will be of no interest to any of them.”

Concern About Rangers As A Going-Concern? 37 1806 37258 6 5/1/2012 19:27:0 the Don Dionisio 112 16 “ok, I thought for a moment, just for a moment, you were referring to the lawyers as shysters.
As to player and league registrations, haven’t a clue, I’m afraid, as that’s down to the venerable triumvirate of SFA, SPL,SFL ( I think?).”

Concern About Rangers As A Going-Concern? 37 1812 37264 12 5/1/2012 19:42:0 the Don Dionisio 112 17 “HMcE.
I am not very good at the technical and that’s the only reason, I didn’t ‘attribute’. I now apologise unreservedly to the authors. Their piece mirrors my views almost exactly,however,although I did revise some faulty draftsmanship. I’m not great at links either so thats why I copied.
Never realised, mate, you were part of the copyright police !?”

Concern About Rangers As A Going-Concern? 37 1818 37270 18 5/1/2012 19:55:0 the Don Dionisio 112 18 “mailto:HMcE@7.21pm
I seem to be in moderation so I’ll try again. I am not very good at the technical and that’s the only reason I didn’t ‘attribute’. I now unreservedly apologise to the authors. However, their piece mirrors my own views almost exactly, although I did revise some faulty draftsmanship. I’m not great at links either so that’s why I simply copied.
Never realised, mate, you were part of the copyright police !?”

Concern About Rangers As A Going-Concern? 37 1821 37273 21 5/1/2012 19:59:0 the Don Dionisio 112 19 “mailto:HMcE@7.21pm
My explanatory and exculpatory reply is currently under moderation,though it is innocuous. No doubt you will see it when it is released by RTC !”

Concern About Rangers As A Going-Concern? 37 1826 37278 26 5/1/2012 20:9:0 the Don Dionisio 112 20 “mailto:Slimshady@7.58,
I think, unless I am mistaken, the blocking by HMRC you refer to would have been of a hive-down pursuant to administration. I am talking about receivership and therein lies the difference.”
Concern About Rangers As A Going-Concern? 37 1832 37284 32 5/1/2012 20:23:0 the Don Dionisio 112 21 “mailto:RTC@8.15,
Thanks for your clear explanation———-I thought I had set a hare running for a moment !
Thank’s again for ‘getting me off the hook, for old time’s sake’ (Attribution: ‘Godfather Part 1’, for fear of the copyright police)”

Concern About Rangers As A Going-Concern? 37 1841 37295 41 5/1/2012 20:31:0 the Don Dionisio 112 22 “Onand(x3)@8.27,
you and I have been over this very old ground in the distant past on this blog but thanks again for coming to my rescue !”

Concern About Rangers As A Going-Concern? 38 1853 37309 3 5/1/2012 20:51:0 the Don Dionisio 112 23 “Onand(x3),@8.36,
So you are suggesting an asset sale deal and not a share sale deal under hive-down. I’m old and ugly enough to remember those too, and it may very well work, the assets being transferred in straight satisfaction of the debt.
Are you satisfied, however, there will be no valuation problems by this route? although I concede that the valuation of these football assets will be notoriously difficult, certainly on a going concern basis but not so sure on a break up basis. Will bow to yourself, the accountants and RTC on that point.”

Tax Deal ‘Rumour’: What was the point? 6 288 37798 38 6/1/2012 20:59:0 the Don Dionisio 124 1 “Most disappointing news of the day is that Kayal is out for 4 months thanks to an imbecilic thug and hammer-thrower, who should not have been playing and who had the gall to go into ‘pantomime mode’ feigning injury to get himself off the hook for, at best, an extremely dangerous and reckless tackle.(Attribution: the Don, for fear of the courtesy police).
Second most disappointing-the perception among some, particularly some johhny-come-latelys, that RFC are financially indispensable to Scottish football. I am with Auldheid—moral hazard dictates we cut them loose regardless of the price if FFP is to mean anything.
Hopefully Chris the tim is right and the decision-making will be taken out of the hands of the media monkeys and the unfit for purpose SPL,SFA,et al and Platini and Co. will sound their death-knell.
Meantime, great stuff from RTC, BRTH, EJ and others, and thanks tenerifetim for the referral to kabam.com (and the 5 families)-there are some candidates I can think of on whom I could usefully employ some of the suggested ‘strategy’.
Finally as to ‘Billy Batts’ Guidi, he may be a made man but his fate is sealed ( a la Billy Batts). ‘Never rat on your friends and keep your mouth shut’ (Attribution: ‘Goodfellas’-Martin Scorsese, for fear of the copyright police).”
Tax Deal ‘Rumour’: What was the point? 9 436 37953 36 7/1/2012 12:27:0 the Don Dionisio 124 2 “Anyone in any doubt as to how this thing will pan out with the media monkeys only has to reflect on McGarry’s ‘take’, in the Daily Mail ,on the news Kayal’s season may be over,viz;——’Over and Out’.
Supremacist triumphalist cheap jibe or maybe I’m just paranoid ??
And on the same theme, where is BBC Scotland’s intense coverage of the biggest financial doping football scandal to hit the best wee bigoted?—well buried under repeats ad nauseam of Hearts’ current difficulties and the mating habits, potential or otherwise, of two pandas.”
Tax Deal ‘Rumour’: What was the point? 11 527 38049 27 7/1/2012 20:57:0 the Don Dionisio 124 3 “mailto:RTC-@6.59,
On what basis do you think there will almost certainly be a further appeal to the Upper Tribunal?—
especially in light of CW’s recent admission there would be no further appeal, to remove ‘uncertainty’ paralysing the club, or did you take that to be spin/lies?
I assume there is scope for that appeal pursuant to Clause 8 and the definition therein of ‘Tribunal Conclusion’, as I would expect such a definition to embrace the possibilty of further appeal at least to the Upper Tribunal.
Finally, what is your authority for the proposition that HMRC can demand all the tax,penalties and interest immediately after a win at FTT irrespective of further appeal?
I know they have that right but can’t source the legal authority for it, nor the criteria they apply, presumably discretionary.Can you clarify,please?”
Tax Deal ‘Rumour’: What was the point? 19 903 38455 3 9/1/2012 14:50:0 the Don Dionisio 124 4 “‘Since becoming Chairman I have always questioned what is being achieved by a public listing’.
Really? What? Do my ears deceive me??
Did you not promise to maintain the Club’s listing for at least a year post-acquisition in your ‘welcoming’ letter to shareholders?
And you’re going to need 95% to go private at your own hand without interference from that annoying and useless minority.”
Tax Deal ‘Rumour’: What was the point? 19 912 38464 12 9/1/2012 15:10:0 the Don Dionisio 124 5 “Well, he (Torquemada) does have a reputation for stretching folks a little on his rack.
A man after my own heart.
Don’t stretch him too hard, Torque, for a little part of him might just die.”
Tax Deal ‘Rumour’: What was the point? 23 1103 38657 3 9/1/2012 21:58:0 the Don Dionisio 124 6 “mailto:corsica@9.44,
That ‘someone’ was the Don mailto:Dionisio@2.50. As someone observed, attribution is everything!”
Tax Deal ‘Rumour’: What was the point? 23 1110 38664 10 9/1/2012 22:25:0 the Don Dionisio 124 7 “mailto:Corsica@10.12,
cheers.
Milk bill? Orange,more like!!”

Tax Deal ‘Rumour’: What was the point? 23 1125 38679 25 9/1/2012 23:12:0 the Don Dionisio 124 8 “TBK/Paulsatim,
ditto !!”
Tax Deal ‘Rumour’: What was the point? 26 1295 38856 45 10/1/2012 17:24:0 the Don Dionisio 124 9 “EJ/Barca,
EJ is correct in that Gretna got an advance of what they were due at the end of the season, which looks like TV/merit money. That advance was to see them through to season end.
It was a ‘six-figure’ sum, so don’t think that would even satisfy the Beast’s wages till then !?(smiley winky face).”
Tax Deal ‘Rumour’: What was the point? 27 1324 38888 24 10/1/2012 19:29:0 the Don Dionisio 124 10 “BTO acting for ‘Kim’? That’s yet another case he’s going to lose or settle in the corridor outside the Court !”

Tax Deal ‘Rumour’: What was the point? 28 1351 38917 1 10/1/2012 20:11:0 the Don Dionisio 124 13 “mailto:salvomontalbano@7.55,
ciao, commissario !
As long as your interests don’t conflict with mine…….??
Remember…..its not personal, its business.”
Tax Deal ‘Rumour’: What was the point? 34 1695 39272 45 11/1/2012 20:14:0 the Don Dionisio 124 14 “Torquemada,
The Serie A match-fixing scandal resulted in Juve, Fiorentina and Lazio being demoted to B and Juve being docked 30 points and stripped of 2 titles. AC Milan, from memory, were allowed to stay in A but were docked 15 points for the following season.The teams who finished in their immediate wake took their places, by default, in European competitions.
Re ‘moral hazard’ is there any significant difference , morally, between (a) bribing match officials in order to secure results and gain unlawful financial advantage and (b) systematically cheating the taxman and taxpayer for 10 years to secure better players, better results and gain unlawful financial advantage? I personally think not, but answers on a postcard, please.
That scandal (albeit in a country close to my heart) undoubtedly provides highly persuasive, if not binding , precedent for the SPL/SFA etc, and whomsoever else has decision making powers in the best wee bigoted, to step up to the plate and do the right thing !
For the avoidance of doubt, I am sure that UEFA,FIFA, Platini, ‘Fair Play’ Rules,the majority of RTC’s contributors, all Celtic supporters and other right-thinking supporters of other disadvantaged clubs, and the world and his wife etc etc will all ‘ jointly and severally’ henceforth be placing these decision -makers under sufficient microscopic scrutiny to ensure they do just that !!”
Tax Deal ‘Rumour’: What was the point? 35 1704 39283 4 11/1/2012 20:28:0 the Don Dionisio 124 15 “mailto:Barcabhoy@8.18,
Agree with you virtually on everything. That’s what I am saying @8.14, albeit coming from a different perspective, initially driven by Torquemada with regard to stripping of tainted titles.”
Tax Deal ‘Rumour’: What was the point? 35 1727 39308 27 11/1/2012 21:19:0 the Don Dionisio 124 16 “theambler,
keep on ambling,friend.!
Borrowing large sums from a bank-and RFC did it big time courtesy of Moonbeam’s influential succulent lamb—is not illegal.
Accepting large donations from a sugar daddy moonbeams or a rich arab-or even a ‘Russian’?-is not illegal.
Operating a tax-dodging scam, whether or not to secure financial advantage ‘in strict footballing sense’ or otherwise is illegal, at least to anyone familiar with moral hazard.
Indeed , the said cheating scam most certainly equiparates with bribing match-officials, and is, on any view, arguably worse. As far as I recall, the Serie A ‘match- fixing ‘ did not endure for 10 years, for one thing !”

Tax Deal ‘Rumour’: What was the point? 35 1739 39320 39 11/1/2012 21:40:0 the Don Dionisio 124 17 “‘what if the rich guy came by his money by dubious means?’
Mr. Moonbeams sure must have raided a shedload of supermarket trolleys??”

Tax Deal ‘Rumour’: What was the point? 43 2111 39710 11 12/1/2012 22:1:0 the Don Dionisio 124 18 “mailto:TBK@9.47,
No chance,no chance, unfortunately. Haven’t got time to give you chapter and verse just now, but the vulnerability period runs from the creation date and not the effective date of assignation.
As I said before, that was the beauty of Whitey taking an assignation of an old historical floater granted I think around 1988.
I relation to that particular matter, I think Whitey, Withey et al have got it right.
In other words, ‘Roth played this one beautifully’- (Attribution: ‘Godfather’-Francis Ford Coppola).”
Tax Deal ‘Rumour’: What was the point? 43 2121 39720 21 12/1/2012 22:12:0 the Don Dionisio 124 19 “TBK,@10.10,
There you go, I was only 11 years out ! (smiley winky vacant looking face).”

Tax Deal ‘Rumour’: What was the point? 45 2248 39853 48 13/1/2012 11:34:0 the Don Dionisio 124 20 “Thomas (‘Tom’) Feargal Hagen was my peacetime consigliere—(andycol,JTI&LW).
Mo greene,stracci, cuneo, barzini,tattaglia……I’ve taken care of all family business today, but will be paying a ‘visit’ to andycol on our supporters’ bus tommorrow.
That’s because his interests conflicted with mine @9.43 and because I know to which one of the 5 Families he belongs !”
Tax Deal ‘Rumour’: What was the point? 46 2256 39861 6 13/1/2012 12:31:0 the Don Dionisio 124 21 “Justinian,
(good ‘legal ‘name,that)
The Las Vegas ‘Govan’ Sands Casino didn’t happen because Moe Greene got whacked !”

Tax Deal ‘Rumour’: What was the point? 47 2315 39920 15 13/1/2012 17:27:0 the Don Dionisio 124 22 “mailto:Cortes@5.01,
I think you’ll find the old Don has lost nothing ! Go back to discovering Spanish colonies or you could go the way of Freddo.
Before I had him whacked he was the ‘Don Philip Tattaglia’
google it.”
Tax Deal ‘Rumour’: What was the point? 47 2319 39925 19 13/1/2012 17:52:0 the Don Dionisio 124 23 “Cortes
de nada, hombre!”
Tax Deal ‘Rumour’: What was the point? 69 3434 41091 34 17/1/2012 20:22:0 the Don Dionisio 124 24 “LW,
hmfc charged with breach of utmost good faith or ‘uberrimae fidei’, if you will, for failure to pay sundry overpaid under-performing preening prima donnas within a few hours of the due time for payment. Not that they’re short of a few bob, but yes MD , EJ, madvlad, and all hearts supporters have every right to be seething.
Why? Contrast this with the gross negligence and inaction re the MBBGEF in relation to inter alia duplicity,tax evasion,cheating,misrepresentation,dishonesty,lying, vexatious litigation,serious breaches of corporate governance,serial failure to pay bills timeously ,if at all, what else have I missed……………………..??
Co-conspirators with their friends in the MSM, i.e.,HK,DK, Jabba 10 bellies, Guidi. English , Speirs, Jackson, McGowan, etc. do we really expect anything else from SPL/SFL/SFA the BBC etc.?
Their joint campaign to keep RFC out of the limelight and yet at the same time to promote their continued indispensable existence, in whatever form, at the highest echelons, does not bode well for the future.”

Rangers Face Their Fate 18 852 42404 2 20/1/2012 21:35:0 the Don Dionisio 204 1 “tenerifetim/oisin71,
molto grazie for the compliment !
Lest there be any doubt as to my capacity for forgiveness:—-
‘But I’m a superstitious man. And if some unlucky accident should befall him—-if he should get shot in the head by a police officer, or if he should hang himself in his jail cell—— or if he’s struck by a bolt of lightning, then I’m going to blame some of the people in this room, and that I do not forgive.
But ,that aside,let me say that I swear, on the souls of my grandchildren, that I will not be the one to break the peace we’ve made here today’
Attribution/retribution??”
Rangers Face Their Fate 32 1558 43161 8 22/1/2012 19:45:0 the Don Dionisio 204 2 “Paul mailto:McConville@10.35am,
No more shines, Paul.
‘I said no more shines. Maybe you didn’t hear about it, you’ve been away a long time. They didn’t go up there and tell you? I don’t shine shoes anymore’
( Tommy DeVito, Goodfellas )”

Rangers Face Their Fate 32 1571 43175 21 22/1/2012 20:48:0 the Don Dionisio 204 3 “P. McConville,
Off topic, but excellent analysis on your site regarding the crass and ridicule-inducing legislation about to be foisted upon us under the absurdly pompous and grandiosely titled ‘Offensive Behaviour at Football etc… blah..blah. blah…Act’
If the best wee b…….. country is not already a laughing stock, it soon will be.
That said, as a recently retired consigliere, I have made a mental note never to ‘aggressively’ make the sign of the cross -( sic, a la Ms. Roseanna Cunningham)- in response perhaps to a certain aggressively sung national anthem.
After all, ‘a man in my position can’t afford to look ridiculous…..’ (Jack Woltz: Godfather) …by ending up in the custody of Strathclyde’s finest, without there being ‘extenuating circumstances’??
(smiley winky face).”
Mixing It Up With The Media 6 255 45352 5 27/1/2012 21:23:0 the Don Dionisio 106 1 “mailto:droid@9.04 pm,
were the 2 men Salvatore Tessio and Peter Clemenza? If so, won’t see Gordy no more !
barcabhoy @8.36 pm,
so the FTT ‘went as well as could be expected’, eh?? Who are your sources and how good are they?
(smiley winky face)”
Mixing It Up With The Media 6 274 45374 24 27/1/2012 22:13:0 the Don Dionisio 106 2 “Barcabhoy@ 10.02pm,
Thanks for that, and excellent news from someone who is obviously a ‘made man’ with reliable inside information.
Once upon a time, I did a lot of deals at Bruno Rafaelli’s so I know what you mean by well connected individuals !”
Battle For Rangers’ Soul Begins 7 336 47271 36 31/1/2012 19:50:0 the Don Dionisio 140 1 “Barcabhoy@ 7.14,
The answer is ‘yes’, although pre- Companies Act 2009, there used to be a facility for registration of such charges —permissive, not mandatory— in the ‘Slavenburg Register’.
Post -Companies Act 2009 the Slavenburg Register was abolished, and only overseas companies registered in the UK with assets there need to register charges over same in the UK Register of Charges.”

Battle For Rangers’ Soul Begins 8 372 47307 22 31/1/2012 20:21:0 the Don Dionisio 140 2 “‘They are digesting themselves for sustenance’.
Reminds me of John Hurt in Alien!
Brilliant last and penultimate posts , RTC, with ‘cappelli’ to you, onand(x3), Slimshady, EJ, paulie W, corsica, and ‘sombreros’ to Barcabhoy and Torquemada, not forgetting BRHT, with apologies to a further long list of dramatis personae too numerous to mention.”
Battle For Rangers’ Soul Begins 9 444 47381 44 31/1/2012 21:37:0 the Don Dionisio 140 3 “mailto:TBK@9.34
From memory, they are being sued for professional negligence in a very large class action, and perhaps that’s what he meant?”
Battle For Rangers’ Soul Begins 14 685 47637 35 1/2/2012 9:18:0 the Don Dionisio 140 4 “‘The former directors believe the financial turmoil has stripped the club of its dignity’—-DR.
What?? You CANNOT be serious?”

Battle For Rangers’ Soul Begins 35 1741 48742 41 3/2/2012 19:24:0 the Don Dionisio 140 5 “RTC,
I think I’m right in saying that you recently expressed the view that Scotland is a fine little country, a proposition which —(along with Phil MacG, James MacMillan , Prof.Tom Devine and many others)- I profoundly and vehemently disagree with. Minority groups of all complexions know different.
I’m with Bartin Main @2.24, to the extent that, without the existence altogether of RFC , the chances of our country flourishing and becoming fine would be materially increased, inter alia a major plank of, and platform for, hatred and sectarianism having been removed at a stroke from our midst.”
Battle For Rangers’ Soul Begins 35 1743 48744 43 3/2/2012 19:28:0 the Don Dionisio 140 6 “Sorry, Bartin Main @ 2.12p.m.”
A victim of our own success 7 323 49925 23 6/2/2012 18:9:0 the Don Dionisio 155 1 “Looks like he lies both in and out of Court?
Not another glib and shameless liar,surely?”

Apologia 2 75 50909 25 9/2/2012 12:31:0 the Don Dionisio 47 1 “mailto:RTC@8.55a.m.,
I thought Socrates had recently joined the heavenly cherubim, armed of course with a pack of Capstan full strength.”
Apologia 3 134 50975 34 9/2/2012 19:53:0 the Don Dionisio 47 2 “mailto:RTC@2.28 p.m,
Small pedantic point of information.
Although a receiver can be appointed by the court, a floating charge holder has power to appoint a receiver at his own hand by executing an instrument of appointment and delivering a copy thereof to the Registrar of Companies within 7 days. Speed is of the essence so no need to go near the court (s.53(1), Insolvency Act 1986). If the formalities are properly adhered to, then the floating charge crystallises and attaches to the property subject to the charge, as if it were a fixed charge, as at the date of appointment of the receiver (s.53(7)).
For example, in relation to heritable property, i.e land and buildings, the floating charge effectively converts to a standard security with all the powers that entails.”
Apologia 3 138 50979 38 9/2/2012 20:5:0 the Don Dionisio 47 3 “mailto:RTC@7.55 p.m.,
Yes, as a human being — though some would certainly take exception to that description!?—-I think that is what I’m saying, with apologies for the boring overly-technical language.
Difficult to change the habits of a life-time, though I do plead self-defence as it’s not always easy to paraphrase the parliamentary draftsman.”
Apologia 33 1608 52490 8 13/2/2012 19:48:0 the Don Dionisio 47 4 “Where is that hearse just when you need it??”

Apologia 34 1677 52559 27 13/2/2012 21:0:0 the Don Dionisio 47 5 “mailto:Paulie@8.27,
Agreed, but I have 2 concerns arising from mis-information or, at best, misleading information on the STV ‘Q&A’ thingy, viz:-
I. They suggest that the big tax case debt cannot be counted in any vote on CVA unless and until the FTT has ruled. This may be true in the short term of 5/I0 days enabling them to agree a CVA and exit admin in the short term. Once the FTT ruling crystallises ,however, they are back at square one, and will need either to pay £75M or thereabouts to HMRC or enter admin again -(20 point penalty cumulative?)— with no prospect of negotiating a CVA for a second time and,therefore, exiting admin for a second time, and
2. If we get to the point of ‘phoenix’ newco, they are suggesting it’s the SPL board of 6 members who decide their fate, and not the other 11 member clubs.Those 6 guys are the sole arbiters of their ‘football’ penalty though it appears the SFA also have a say which is also discretionary-ie there is no fixed penalty, i.e not fixed in tablets of stone.
My view is this is short term posturing as he can appoint a receiver immediately, at his own hand, by instrument of appointment if he still holds the floating charge as opposed to Ticketus. Although who would lend upwards of £20M without security? As Ox3 has astutely suggested Ticketus may have a share pledge from Groupco but I am not convinced about the strength of such a charge from a creditors’ perspective.
Any views on this, with particular reference to my concerns at 1&2 above?
Molto grazie.”
Apologia 34 1697 52579 47 13/2/2012 21:19:0 the Don Dionisio 47 6 “Grazie, salvomontalbano, although I’m much better in midfield and ,even then, only as a tanner ba’ player !
May I in turn congratulate you on a magnificent performance ,as Commissario Montalbano, in the new 10 part series on BBC 4 which kicked off on Saturday.”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 3 136 52923 36 14/2/2012 11:34:0 the Don Dionisio 97 1 “Agreed, EJ, except that I thought Hearts had been threatened with liquidation, several times.
HMRC are now taking the initiative, but nothing changes, and as you say the secured creditor will —-if he has any sense?—-appoint a receiver.
There could be a race on now to see who gets in first with a formal insolvency event but the secured preferred creditor will remain precisely that i.e secured and preferred.”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 4 155 52943 5 14/2/2012 12:9:0 the Don Dionisio 97 2 “mailto:tulleythedhog@11.54 a.m.
I think your interpretation is spot on and, I think, mirrors that of team member, EJ, although the draftsmanship is not a thing of wondrous beauty and there is huge scope for ambiguity.
Remember, however, that Doncaster said on TV that the Rules will be applied in full with neither ‘fear nor favour’—someone give me the exact quote, please-so let’s all not forget to keep reminding him of that very public acknowledgement !!”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 4 161 52949 11 14/2/2012 12:24:0 the Don Dionisio 97 3 “Mark Dickson,
if he appoints a receiver at his own hand under an insrument of appointment that is more or less instantaneous, subject to a filing requirement within 7 days.
As Barca says he should be doing that as we speak.
That, of course, is subject to any over-riding court decision -application has been made today but I am unaware of any ruling.
As to football matters, whether on saturday or any other day…..pass, but I’m not giving up my place as the imperious Italian centre half in the mould of Franco Baresi/Paul Elliot !”

Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 4 180 52968 30 14/2/2012 12:42:0 the Don Dionisio 97 4 “Mar mailto:Dickson@12.36,
Not an issue here as the floating charge goes back to well before the tax debts.
Where did you see that about Court 7, C of S?”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 4 194 52982 44 14/2/2012 12:51:0 the Don Dionisio 97 5 “Mark Dickson,
sorry, Mark, mis-spelled your name earlier.”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 9 432 53222 32 14/2/2012 16:51:0 the Don Dionisio 97 6 “A one Brian Donohoe MP—-who is this muppet?- thinks its ‘bizarre’ what HMRC have done to RFC, particularly as to timing as a Great Blue Knight might have entered the fray within 5/10 days.
He acknowledges, grudgingly, however that ‘some payments were made….and those payments should not. have been made…..’ blah, blah
Great to hear from someone with a vested interest-his constituents are not from darkest Ayrshire, perchance, Cumnock,Kilwinning ??—not that I give a damn for him or them !
‘Sad day for Scottish football..blah,blah’. Another piece of spin from R. Gough-‘the 2 clubs are institutions ‘ blah,blah and SOMEONE will come along and save them…!”

Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 24 1169 53970 19 15/2/2012 18:55:0 the Don Dionisio 97 7 “mailto:TBK@6.31,
Salmond on news mouthing the same inane platitudes as his Sports Minister (??)—-.
‘we need them, they are an institution, the good of the Scottish game, HMRC must allow them an easy -payment plan, time to pay etc etc ‘ .
Outrageous arrogance given he knows all about the wee, big and medium sized tax bills but is content for the taxpayer to be shafted.
Better to keep on board the votes, potentially , of the 200,000 (??) visigoths who ransacked Manchester??”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 24 1186 53988 36 15/2/2012 19:23:0 the Don Dionisio 97 8 “mailto:andycol@7.13 p.m.,
As you very well know—- and to set the record straight—- I only contemplated that for a few brief seconds, after reading the nauseating banner headlines : ‘England Expects’ from our friends on Sky and down south, following Capello’s resignaton.”

Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 38 1884 54703 34 16/2/2012 19:50:0 the Don Dionisio 97 9 “Onand(x3),
Not just the security, which I have not yet had a chance to research as being potentially voidable, but also, and potentially more importantly, the apparent transfers by RFC of Ibrox and MP to ‘a company not in administration’—(how very coy?)— under ss.243 (gratuitous alienations) and 243 (unfair preferences) of the Insolvency Act1986.
Both the liquidator and administrator can,potentially, challenge these transactions so I hope HMRC and the other creditors are monitoring both them and the situation very closely.
Also,though I stand to be corrected as I am working from memory, it’s 5 years for transactions with an associate or connected person such as a group company?
Any thoughts?”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 39 1911 54731 11 16/2/2012 20:16:0 the Don Dionisio 97 10 “Onand(x3),
Not an insolvency practitioner nor expert, but I think I am right in saying s.74 of the Bankruptcy (Scotland) Act 1985 was amended by statutory instrument so that the defintion of ‘associate ‘ includes companies one within the control of another.
That means it’s 5 years for gratuitous alienations under s. 243, albeit I see its only 6 months for unfair preferences under s. 244.
Also, if the season tickets were sold by RFC but the consideration therefor was purloined by Group, thus putting that consideration, potentially, outwith the reach of creditors, then I think that transaction falls to be scrutinised most carefully as well.
No doubt the administrators will apply themselves to these very serious questions ASAP !”

Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 54 2656 55501 6 17/2/2012 21:55:0 the Don Dionisio 97 11 “RTC,
Yet another piece of work in the Guardian. Way to go !
‘Cappello’, to use the vernacular.
Your concluding paragraph reminded me, fleetingly, of Johnny Fontane: ‘Oh,Godfather,
I don’t know what to do, I don’t know what to do………’
Don Corleone: ‘ You can act like a man !!! — (gives Fontane a quick slap)— What’s the matter with you ? Is this what you’ve become? A Hollywood finocchio who cries like a woman? ‘Oh,what do I do,what do I do?’ ‘”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 77 3818 56696 18 20/2/2012 14:28:0 the Don Dionisio 97 12 “Unless and until we have full transparency on the minutiae of all of the MBB’s takeover and other transactions, I do not believe we should lightly dismiss the possibility of any one or more of the following:-
1. Financial assistance, a concept notoriously diificult to grasp and explain owing to the myriad of possible transactions.
2.Gratuitous alienations, i.e. disposals for no value or at undervalue to the detriment of creditors.
3.Unfair or fraudulent preferences, in a question amongst creditors, which is pretty well self-explanatory.
Just because we have no evidence, or even a shred of evidence, doesn’t necessarily mean- -(without making cryptic meaningless comments lacking any factual or evidential basis)—- that the evidence does not exist.
It simply means we haven’t found it yet due to the web of deceipt drawn by the MBBGEF and /or his advisors , in relation to which , remember, there has been no (or only limited) ‘visibility’ (adopting the somewhat inane buzz-word coined by Duff & Duffer ).
As I mentioned before. I was extremely surprised to hear—(at least I think I heard)—the press conference confirm that Ibrox and MP have been transferred out of RFC to another company or other companies . Few have mentioned that on here, to my surprise, but I am now unable to trawl through in excess of 3,000 comments so I may have missed that. Anyway, if I heard right, and depending on the dates of these transfers /disposals they well be subject to reduction, actions of restoration of property or such other redress as the Court sees fit vis-a-vis disadvantaged parties, in the main creditors.
Maybe the MBBGEF transferred those assets to himself personally, however, on one of his 2 birthdays, in which case he’s in the clear as birthday, Christmas and other conventional gifts fall into one of the recognised exempt categories !!”
Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 77 3836 56715 36 20/2/2012 15:8:0 the Don Dionisio 97 13 “mailto:EJ@2.55, and others.
Mnay thanks for that, in which case my comments on gratuitous alienations and unfair preferences are irrelevant.”

Blogger Scoops Mainstream Media Yet Again Shocker! -in spare time 77 3842 56723 42 20/2/2012 15:33:0 the Don Dionisio 97 14 “mailto:Moomins@3.12pm,
Perhaps, but I think financial assistance might be more relevant here, but only if there had been a reduction in net assets as a result of the Ticketus transaction, but others more qualified to advise, namely accountants, may care to comment.
As I understand it, there was a forward sale of season tickets owned by RFC in exchange for circa £24M which was paid to Group parent company. That money, or part of it, may then have been used to re-pay RFC’s indebtedness to LLoyds.
What I am unclear about is how those transactions-if they happened-impact on the net assets of RFC.”

Well done! 31 1532 60961 32 29/2/2012 19:54:0 the Don Dionisio 335 1 “mailto:slimshady@7.46,
It’s not like you, but you’ve slipped up :————-‘ 3 (?) great winners’ ?”
Well done! 46 2255 61697 5 1/3/2012 22:6:0 the Don Dionisio 335 2 “mailto:TBK@8.23,
Just be careful, be very careful, about what you say about Italians, my paesani, and their legal system! —(silly smiley face).
They don’t do stealing from their own favourite charities.
Heard fat Sally was horse-trading and think I’ll remind him -(and you)- about a horse called Khartoum whose head was separated from its body.”
Well done! 46 2279 61721 29 1/3/2012 22:33:0 the Don Dionisio 335 3 “mailto:TBK@10.17,
si parla molto bene italiano per un cavaliere nero !”
Well done! 47 2301 61743 1 1/3/2012 23:16:0 the Don Dionisio 335 4 “mailto:TBK@10.46,
Non so niente-after all, what do I know, I predicted receivership.
In my defence, however, I think the MBB opted for administration for cosmetic reasons, perhaps to protect those google eyes??”
Time For Leadership at SFA & SPL 10 458 62296 8 2/3/2012 18:50:0 the Don Dionisio 197 1 “Can Lord Nimmo Smith please arrange for an urgent precogntion to be taken from Hugh Adam before he (i.e Hugh) gets whacked??”
Time For Leadership at SFA & SPL 25 1232 63095 32 4/3/2012 17:40:0 the Don Dionisio 197 2 “Mark mailto:Barry@4.33,
Rich, isn’t it, particularly when you consider that it was Lennon, and not McCoist, who was actually and physically ‘kicked when he was down’ !
(RIP-Paul McBride)”
Time For Leadership at SFA & SPL 36 1767 63643 17 5/3/2012 19:18:0 the Don Dionisio 197 3 “mailto:Slimshady@5.59,
That’s all very well, but how do you square that with people leaving the SPL meeting today suggesting there’s nothing in the Rules to deal with the eventuality of a newco and that ‘we’ll need to deal with that’, the clear inference being that there is now a groundswell to make new rules to deal with RFC.
Call me paranoid, but that’s not my understanding of the existing Rules, as so ably commented upon by, in particular, EJ, and others, in general ,on here.
Either the existing Rules, both SPL and SFA , cater for newco, or they don’t. From what EJ and others were saying the existing Rules do cover the RFC newco scenario. If so, why the meeting today and not before today?
If there was a lacuna in the Rules it ought to have been plugged long before now, or does it only require consideration when it’s the death of RFC which is at stake?
I haven’t personally got the inclination to research the Rules in any depth, since any time I’ve looked I’ve thought that semantically they were incomprehensible drivel, probably drafted in the dark ages of medieval times, looking at the language, with much scope for ambiguity and differing interpretations.
They are very far from a model of clarity and, no disrespect, but it’s just a pity that the late Paul McBride QC, or someone equally capable, had never been presented with the opportunity of completely re-drafting them.”
Time For Leadership at SFA & SPL 36 1781 63657 31 5/3/2012 19:55:0 the Don Dionisio 197 4 “EJ@7,35,
Thanks for reminding me of that, but do you think Yorkston’s view will be affected by the 80K+ ‘bung’ now being paid by RFC (IA) to Dunfermline?
And I choose my language carefully for it equiparates the Dunfermline debt with a liitle Englander’s Football Creditor’s Debt to the detriment of other unsecured creditors, including HMRC.
And just to re-cap does your view of the Rules, broadly, square with the STV summary?”

Time For Leadership at SFA & SPL 38 1867 63744 17 5/3/2012 22:52:0 the Don Dionisio 197 5 “mailto:EJ@10.27,
Many thanks for your efforts which I know you’ve now replicated for the umpteenth time !
For what it’s worth, my provisional view squares with your own. I say ‘provisional’ since I have not had the opportunity to wade through all of the Rules. I assume you are not aware of any conflicting provision?
And without doing further damage to your life away from the blog, can you remind me please, at your convenience, as to how ‘Member’ is defined. I assume from what you say it means owner/operator and not the Club itself?”
Time For Leadership at SFA & SPL 49 2442 64329 42 6/3/2012 23:5:0 the Don Dionisio 197 6 “Magic/Nae Magic Circle,
As I’ve said before, the SPL Articles are not a model of clarity.
That said, Article 14 expressly deals with ‘winding up’ and the transfer of the Share by ‘a liquidator’, and it is misleading to suggest otherwise.
I’m with Easy Jambo in that it’s a decision for the Members in General Meeting on a Qualifed Resolution, which is then rubber-stamped by the Board of Directors per Article 11.
It would be extremely odd if shareholders were disenfranchised by directors in corporate governance matters expressly covered by the Articles, and Mr. Yorkston, who is no fool— unlike some of the other fools who have been spouting rubbish—-certainly thinks he has power to vote on behalf of his Club in respect of the relevant Share.”

Time For Leadership at SFA & SPL 50 2485 64373 35 7/3/2012 0:2:0 the Don Dionisio 197 7 “Circle but nae mailto:Magic@11.34pm,
Fully take on board your points, and we could argue ad longum because of lack of clarity.
However, 2 points:-
1. Yes, they are in administration which does trigger Art. 14 but the Members are adopting a ‘wait and see’ policy because, in theory, they could get a CVA and trade out of administration—- highly unlikely in practice owing to the BTC, but they are waiting for the adverse FTT ruling.
2.When the FTT ruling comes in, if adverse, all bets are off and it’s liquidation with a liquidator transferring the Share to ‘a proposed transferee’ whose identity is to be confirmed all in terms of Art.14.
If the proposed transferee is not Newco, I am at a loss to understand who else it could be, albeit I concede it could be inter alia Newco?”
Time For Leadership at SFA & SPL 62 3088 64989 38 7/3/2012 22:36:0 the Don Dionisio 197 8 “And I hope that you die
And your death’ll come soon
I’ll follow your casket
In the pale afternoon
And I’ll watch while you’re lowered
Down to your death bed
And I’ll stand over your grave
Till I’m sure that your dead.
(Attribution: Robert Allen Zimmerman)”
Time For Leadership at SFA & SPL 62 3095 64996 45 7/3/2012 22:49:0 the Don Dionisio 197 9 “mailto:salvomontalbano@10.40,
egregio signore, sono molto d’accordo con lei !”

Rangers Deathwatch Q&A 10 475 65550 25 8/3/2012 19:8:0 the Don Dionisio 174 1 “F.A.O. Ian Bankier, esq, Chairman, CFC:-
In my view, any proper SPL meeting without Celtic, (or indeed RFC(IA)) , is ultra vires and illegal (unless it’s some meaningless and unenforceable hot-air expounded in some pub), and that is because of inter alia the undernoted Article 27 in relation to Notice of General Meetings:—-
’27. Subject to the provisions of these Articles and to any restrictions imposed on any Shares, the notice shall be given to all the Members, to all persons entitled to a Share in consequence of the insolvency of a Member and to all members of the Board and the auditors.’
And as for the remarks of that clown at the end of the BBC news (Scot) about ‘kicking someone when they are down’?????—-put yourself in the position of Neil Lennon, friend, and then you might learn how it actually feels to be physically kicked when you’re down !!”
It’s A Deal 18 871 67134 21 11/3/2012 19:52:0 the Don Dionisio 262 1 “mailto:campsiejoe@1.16,
That was my recollection too-i.e. that the Duffers had said on day one that ‘Ibrox and MP were owned by a company not in administration’.
I commented on that at the time because it might have had repercussions in the sense that the transfers out might have been voidable/challengeable as gratuitous alienations/unfair preferences, if full value was not received. (Remember that in this context Ibrox was worth £120m according to the accounts!)
I was then corrected by, I think, EJ who said the Duffers had retracted that statement and admitted they had got it wrong, i.e the 2 properties were still held by RFC.
This is hugely important—-rather more pressing than the removal of 2 computers—-as it means newco could, in theory, start up aided by a ‘friendly’ landlord of the 2 important heritable properties.
On the other hand, if the properties are no longer in RFC’s ownership, what are the assets the Duffers are trying to sell?
Is there an authoritative view as to the ownership position of the properties?”

It’s A Deal 18 884 67147 34 11/3/2012 20:18:0 the Don Dionisio 262 2 “mailto:campsiejoe@8.04,
Agreed, but by extension of the same logic , if correct, would have meant that the floating charge holder must have consented to the disposal of the 2 properties (to Group??), in which case the floating charge no longer encompasses those properties.”
It’s A Deal 19 903 67166 3 11/3/2012 20:52:0 the Don Dionisio 262 3 “mailto:easyJambo@8.34,
Thanks, and I stand corrected….again.
I have not viewed the video but will take your word for it.”
It’s A Deal 37 1831 68126 31 13/3/2012 22:32:0 the Don Dionisio 262 4 “SDM….’captain of the ship’?
Captain of the Concordia , more like, and that’s being disrespectful to my discredited paisan !”
It’s A Deal 37 1842 68138 42 13/3/2012 22:55:0 the Don Dionisio 262 5 “To anyone who has missed it…………I thoroughly commend Mark Dickson @9.37a.m., he has nailed it re sporting integrity and skilfully highlights the precedents from Spartans, Sion, Marseille, AC Milan, Fiorentina, Lazio, etc through to Juventus.
A very well constructed argument to the effect that it doesn’t matter who was to blame…..the owners, the club, the fans, the guy who bribed the ref., the guy who set up and/or implemented the EBTs, the guy who hid/binned the side letters/second contracts….etc, etc……the club must still be severely and appropriately punished for all the illegalities if there is to be any fair play, financial or otherwise.
Mark, you were deserving of considerably more thumbs up !”

It’s A Deal 38 1856 68152 6 13/3/2012 23:30:0 the Don Dionisio 262 6 “‘It’s important the club survives, not just for Rangers supporters, but for the whole of Scottish football’
The ventriliquist Pontius Pilate Murray has spoken and his acolyte dummies in the MSM will mouth his words !”
It’s A Deal 43 2106 68410 6 14/3/2012 16:30:0 the Don Dionisio 262 7 “SDM:————-‘I think, even in the Evening Times last week,……..(Paul) Gascoigne confirmed it (there were no dual contracts’.
Well there you have it.
Confirmed by a man who scarcely knew what time or day of the week it was, who could not differentiate between an imaginary flute and a five bellies buddy—-( or did he morph into Jabba ten bellies ??)—and yet we are expected to believe this tiny brain could grasp serious intellectual concepts such as EBTs, back letters,side letters, letters of intent, ‘dual contracts’??
‘And I can only apologise so many times’. Funny that, don’t recall any previous act of contrition?
And, btw, I’m now totally bored with all these nautical allusions from SDM and AJ, i.e. ‘captain of the ship’, ‘hand on the tiller’, ‘helmsman who took the club onto the rocks’ blah , blah, blah…..
…………………………………it’s starting to make my paisan, the Captain of the Concordia, look like a prince among pirates !”
Illegal Use of EBTs & Other Issues 10 476 69669 26 16/3/2012 19:8:0 the Don Dionisio 157 1 “Question: -how do you bid for a pig in a poke??
Well, there you have it. Five letters of intent for Hvn man FC.
But, as we all know, courtesy of that cerebral moonbeam luminary (S)DM, letters of intent are meaningless, legally unenforceable, hot air……!
Who is selling what in this farce?”

Not Long To Go 31 1543 74149 43 29/3/2012 17:36:0 the Don Dionisio 394 1 “To stop a hare running…………..the whitewash procedure, in relation to financial assistance, was repealed and abolished for private companies in 2008.
Whitewash was never available for public companies and the blanket prohibition remains post-2008.”
We don’t do walking away either 13 648 76302 48 4/4/2012 13:31:0 the Don Dionisio 199 1 “Duff & Duffer:———’It would be pretty churlish of him (MBBGEF) not to co-operate’.
MSM:———-‘Liquidised?, liquidised?’ .
Per l’amor di dio…..will somebody please get me my liquidiser??”
We don’t do walking away either 16 759 76419 9 4/4/2012 18:9:0 the Don Dionisio 199 2 “That bid from Germany, could that be the Hvn bid?
I’ll get my ‘giacca’ !”
We don’t do walking away either 16 765 76425 15 4/4/2012 18:18:0 the Don Dionisio 199 3 “The erudite PM stresses that a CVA is the way forward to preserve the Club’s ‘value’ and ‘legacy’.
Really? does he not get it? do the admins not get it? The clue’s in the letters CVA, i.e. ‘Creditors’ Voluntary Agreement’.
Neither he nor they have a say, it’s down to the creditors and even if the vote for one ,in the short to medium term, once the FTT BTC result comes in they are back in admin and , guess what, ‘We firmly believe a CVA is the best way forward blah blah blah'”
We don’t do walking away either 16 773 76434 23 4/4/2012 18:28:0 the Don Dionisio 199 4 “H’mmm……so four bids then?
And who da thunk it , one from Germany?
But they know it’s a Dutch auction, don’t they??”
We don’t do walking away either 16 775 76436 25 4/4/2012 18:31:0 the Don Dionisio 199 5 “H’mmm……..so, four bids then?
And who da thvnk it, one from Germany?
But they do know it’s a Dutch auction, don’t they??”

We don’t do walking away either 16 781 76442 31 4/4/2012 18:47:0 the Don Dionisio 199 6 “mailto:GaryH78@6.25,
No problem, amico, although I think Grout’s ‘Mrs. Sax-Coburg’ reference probably takes the prize”
We don’t do walking away either 16 788 76449 38 4/4/2012 18:58:0 the Don Dionisio 199 7 “That anti-‘liquidisation’ demo drivel stuff reminds me strongly of an old pal (paisan) of mine.
Don Michael Corleone:———- ‘Senator, you can have my answer now, if you like. My final offer is NOTHING'”
We don’t do walking away either 16 795 76456 45 4/4/2012 19:3:0 the Don Dionisio 199 8 “mailto:tenerifetim@6.53,
no,sorry to the others, but you get the big prize for the funniest German joke!!”

We don’t do walking away either 17 806 76468 6 4/4/2012 19:21:0 the Don Dionisio 199 9 “mailto:tenerifetim@6.47,
I did think of making them an offer they couldn’t refuse.
But then I re-considered and decided to offer the the same as the Don Michael Corleone to Senator Pat Geary, i.e ‘ NOTHING’.
This was after reading the the FF anti-‘liquidisation’ demo drivel, capisce??”
Quick Recap 41 2027 79398 27 12/4/2012 22:7:0 the Don Dionisio 337 1 “mailto:Easyjambo@7.53,
As I’ve said before, I support your interpretation of Article 14, otherwise, as you rightly say, what’s the point of that provision?
Nor do I share others’ views on here that there is an obvious distinction, looking at the provisions of the Articles, as a whole, between mandatory and permissive provisions. Nor do I accept the views of the various ‘Tweeters’ that it is simply a decision for the Board and the Board alone.There is more than a whiff of propaganda there.
That said, the Articles are highly ambiguous, a recipe for litigation/ Judicial Review.
However, as I’ve also said before, the Articles are very far from a model of clarity, having been drafted by an intellectual pygmy——-probably one of those luminaries on FF or maybe DK himself?-(ha,ha.)
As the late Paul McBride QC was at pains to explain neither the Articles nor their learned (?) authors are fit for purpose. That’s why he offered to re-draft them in the wake of the disgraceful 8- game ban imposed on Neil, entirely without precedent in the annals of biased behaviour.
However, I think you may have misconstrued the position vis-a vis Share transfer when a club is sold, ie whether Hearts or RFC, whether sold to Vlad, MBB or et al.
My reading of the Articles is that a sale of the Club/Company/ Member —-for all 3 are the same entity———- is entirely neutral to and doesn’t affect ownership of the Share at all. The target club/ Member company and Member of the SPL continues to hold the Share exactly in the same
way it did under Robinson’s/ SDM’s ownership. In other words, the Share is owned, and continues to be owned, by the target Member club.
I haven’t re-visited the Articles recently, but all this may be academic if, as suggested by the Sage, any change to the Articles requires a 90% vote. If he is correct-and I haven’t checked that but have no reason to doubt him-nothing gets past first base without that majority vote.”
Bear With Me 52 2570 84476 20 25/4/2012 23:49:0 the Don Dionisio 426 1 “mailto:Slimshady@11.03,
Slim. As the number one ‘tifoso’ of the land of my late grandfather, Italy, and 4 times World Cup winners, I cannot allow that to pass without comment.
For me, the pinnacle of mental toughness was the two stunning aet strikes from Fabio Grosso and Alessandro Del Piero at 119 and 120 minutes respectively in front of a very hostile home hvn crowd in Dortmund (semi-final 2006).
In fact, the whole extra- time period was an object lesson by the Italians on ecomony of effort punctuated with piercing rapier- like raids finished off with deadly efficiency-watching the re-runs I never cease to be persuaded that , Buffon apart, you could have been looking at 10 Larrsons !!”
Bear With Me 60 2974 84910 24 26/4/2012 19:50:0 the Don Dionisio 426 2 “‘The safety and security of judicial panel members appointed to a recent tribunal has been compromised by a wholly irresponsible betrayal of confidential information’.
Perhaps Fat Sally of the Junior Cardigan, endorsed by Sir Wattie of the Senior Cardigan—-(anyone remember his somewhat ‘blue’ but ‘dignified’ language on the infamous You-tube interview with the Chico??—-and doubly endorsed by ‘Sandy’, the impostor, who kept the then best right back in the world out of position at left back in the national team)——should be diligently pursued by the MSM to betray some confidences about their and the other 70 odd EBTs ? (Fat chance).
All of them, expressly or implicitly, endorsing witch- hunts and incitement to hot-headed violence by the hot-headed ‘minority’.
The same hot-headed ‘minority’ of Visigoths who ransacked Manchester and sundry other fine cities around the Western world because they ‘could not get their way’?
Any chance we could get them to re-convene at Pamplona to co-incide with the running of the bulls?
And yet Lennon faces more trumped up charges for pointing his finger whilst these vagabonds go uncensured and unpunished in the MSM.
Word of warning and advice from a Wiseguy for the Fat One and his acolytes:-
‘Keep your mouth shut and never rat on your friends’ -(Jimmy Conway)——
—-or perhaps that should be ex-friends, even the ‘outed’ season ticket holder.
And with 6 companies crippled by financial crisis going to the wall every day in Scotland as the economic crisis claims a record number of victims — that is to say,’real’ victims— who gives a …. for these serial cheating charlatans??
I hope that they die and their death comes soon.
And when Wiseguy Tommy DeVito finally puts the wounded animal out of its misery :—————-
‘I thought they’d never shut the f… up!'”
Bear With Me 61 3043 84984 43 26/4/2012 21:50:0 the Don Dionisio 426 3 “RTC-
It appears I may have used a word which is proscribed, for which I humbly apologise, but should be grateful if you would moderate !?
I don’t have the wherewithal to repeat myself like Jimmy Two Times :-‘I’m gonna go get the papers, get the papers'”
Bear With Me 62 3065 85006 15 26/4/2012 22:12:0 the Don Dionisio 426 4 “‘The safety and security of judicial panel members appointed to a recent tribunal has been compromised by a wholly irresponsible betrayal of confidential information’.
Perhaps Fat Sally of the Junior Cardigan, endorsed by Sir Wattie of the Senior Cardigan”(anyone remember his somewhat ‘blue’ but ‘dignified’ language on the infamous You-tube interview with the Chico??’-and doubly endorsed by ‘Sandy’, the impostor, who kept the then best right back in the world out of position at left back in the national team)”should be diligently pursued by the MSM to betray some confidences about their and the other 70 odd EBTs ? (Fat chance).
All of them, expressly or implicitly, endorsing witch- hvnts and incitement to hot-headed violence by the hot-headed ‘minority’.
The same hot-headed ‘minority’ of Visigoths who ransacked Manchester and sundry other fine cities around the Western world because they ‘could not get their way’?
Any chance we could get them to re-convene at Pamplona to co-incide with the running of the bulls?
And yet Lennon faces more trumped up charges for pointing his finger whilst these vagabonds go uncensured and unpunished in the MSM.
Word of warning and advice from a Wiseguy for the Fat One and his acolytes:-
‘Keep your mouth shut and never rat on your friends’ ‘(Jimmy Conway)”
”or perhaps that should be ex-friends, even the ‘outed’ season ticket holder.
And with 6 companies crippled by financial crisis going to the wall every day in Scotland as the economic crisis claims a record number of victims ‘ that is to say,’real’ victims’ who gives a …. for these serial cheating charlatans??
I hope that they die and their death comes soon.
And when Wiseguy Tommy DeVito finally puts the wounded animal out of its misery :””’-
‘I thought they’d never shut the f… up!'”

Miller Industries 22 1065 90009 15 7/5/2012 21:58:0 the Don Dionisio 248 1 “mailto:Cortes@10.06pm 4/5/12:-
‘Did il Don Dionisio not make remarks last year about the likelihood of a ‘hive-down’? ‘
I did indeed but can take no credit as my remarks were made in the context of a perceived Receivership by the crafty Craigy boy, MBBGEF, and not an administration which I did not anticipate. But then, what do I know?
Rather than hive-down, it’s looking more like ‘hoe-down’ with the appearance of Billy Miller 1 and son Billy Miller 2 riding to the rescue as the yanks’ equivalent of Steptoe and Son.
I am still mystified as to why the MMB relinquished the control he would have had via’ Receivership as opposed to administration unless (a) his floating charge did not secure any debt as perceived by RTC or (b) his brass neck could withstand no further criticism and ignominy at the hands of the MSM/blue hordes on account of a further act of naked self -interest in the form of asset-stripping.
I can’t accept the Crafty one would allow option (a) to arise otherwise what’s the point of acquiring the floating charge? All he had to do was engineer that any new debt due by RFC was structured in such a way as to be due to Group ”surely not beyond the capabilities of an off -the -radar MBB venture capitalist turnaround specialist !
Be that as it may, his position remains broadly the same via administration”absent control’-since admin has the effect of freezing all debt collection litigation, winding up, and enforcement of securities by secured creditors, whether pursuant to fixed or floating charges.
The administrators require the leave of the court to dispose of assets subject to fixed charge, but no such restriction applies to assets subject to a floating charge.
The administrators can therefore sell the assets without MMB’s approval (or that of Ticketus or whomsoever is now the floating charge-holder), but the FC holder will have the same secured priority he enjoyed in relation to the proceeds of sale of the assets.
So unless RTC’s scenario that the floating charge secures little or nothing is correct, I find it difficult to see how a CVA has any chance of success.
On the other hand maybe RTC’s hvnch is correct, otherwise why would the MBB or other entitled floating charge-holder not have put in his very own Receiver on day one?”
Miller Industries 31 1524 90545 24 8/5/2012 20:45:0 the Don Dionisio 248 2 “So,there we have it, as I suggested, Billy Miller 1 and Billy Miller 2 (aka Steptoe and Son), the ‘Yanks’, did do walking away, went home, didn’t do a ‘hive-down’, but instead just did a hoedown——on RFC (IA) ‘s grave.”
Miller Industries 87 4313 93705 13 14/5/2012 12:36:0 the Don Dionisio 248 3 “mailto:paulmac@12.43am,
A scandalous slur on my good paesani, the Corleone mafia family, which I request you withdraw immediately under pain of a horse’s head, a sleep with the fishes (no fish jokes, please!) etc etc
(fvnny smiley Italian face with a trace of the De Niro grimace)”
Miller Industries 90 4460 93884 10 14/5/2012 18:51:0 the Don Dionisio 248 4 “That Charles Green fellow—-thank the Lord it wasn’t a truly big player in the shape of Phil or Paul Green—- but did anyone else notice the spivv-like Arfur Daley coat??
Says it all , really.”
Miller Industries 90 4464 93888 14 14/5/2012 19:3:0 the Don Dionisio 248 5 “mailto:Chris@6.24,
Obviously. it’s the spivv-like Arfur Daley coat which is intended to lend MR. Green the gravitas !
cheers, duggie73.”
Miller Industries 91 4550 93983 50 14/5/2012 22:6:0 the Don Dionisio 248 6 “Insomniac,
Are you suggesting that Green has links with Kevin McCabe, the wealthy property developer?
I know their paths will have crossed at Sheffield Utd, but were they there at the same time, Green’s tenure being fairly short-lived, as is the case, seemingly,with all of his companies?”
Miller Industries 134 6614 96409 7 20/5/2012 18:56:0 the Don Dionisio 248 7 “I note, with some scepticism, that Dave (‘the glib and shameless liar’) King now claims that he has a right of pre-emption over the MBBGEF’s shares.
‘It was agreed verbally over lunch’-(-of the succulent lamb variety??)
Unfortunately, as any first year law student knows, a verbal contract isn’t worth the paper it is written on.”
Miller Industries 134 6634 96432 27 20/5/2012 20:19:0 the Don Dionisio 248 8 “Lord mailto:Wobbly@7.44,
As your Lordship knows, another (s)ucker another verbal contract !”

Doncaster Dooms SPL 19 929 98038 29 23/5/2012 21:49:0 the Don Dionisio 340 1 “The programme was revealing to the extent that we now have names, faces,side letters, amounts, pack drill…………..plaudits due to Mark Daly, RTC, P MacGBhain, and all their humble supporters who have shone a light on the dark side.
And Sir Minty was ‘dooped’ by the crafty Craigboy…..whilst both Donald Trump (a real billionaire, not Motherwell born) and Prince Albert of Monaco were both trumped by ………?………well, the anonymous MR. Green. Who da thvnk it?”

Thank you- all of you! 7 338 98847 38 24/5/2012 20:23:0 the Don Dionisio 178 1 “RTC-
belated congrats on winning the prestigious award !
One small point arising from the last blog, however, which is to explain that during the administration period there is imposed a moratorium which prevents security being enforced against the company’s assets, except with the administrator’s written consent or with the court’s leave. Accordingly Whyte cannot presently appoint a receiver.
Receivership crystallises a floating charge and the only other circumstances where a floating charge will crystallise is winding up under the Insolvency Act (IA) and when an administrator chooses to do so under para 115 sched B1 to the IA in order to make a distribution to the floating charge holder.
Slim-
The answers to the questions you pose depend on whether or not the floating charge supports a legitimate debt, to adopt RTC’s parlance. As I am sure you know, the floater is simply a security securing the personal obligation to re-pay the debt usually constituted in a separate personal bond or other written obligation. You will also be aware that the personal obligation is usually either for a fixed sum or ‘for all monies due and to become due’.
Unfortunately we are all in the dark as to the personal obligation, but we could wheel in Fat Sally and Sandra to demand ‘transparency/clarity’??
In the absence of such clarity it’s impossible to give a definitive answer as to the amount of debt (if any) secured by Whyte’s (or Whyte’s assignee’s ) floating charge. Easy if it was a fixed sum, but ‘all monies’ would require evidence of the actual amount due. I wiil stand corrected by my litigation colleagues, who will be more au fait with the rules of evidence, but I suspect parole evidence would suffice as to whether or not there is a debt and as to its amount. Far better to be armed with documentary evidence of course. Either way, a recipe for long litigation !
Also, if the administrators wish to sell the assets they can do so without the floating charge holder’s consent , but the floating charge holder will preserve the same priority over the sale proceeds. If the secured creditor doesn’t like the asset sale deal, or otherwise feels prejudiced thereby, he can petition the court for another remedy.
Finally, I can’t believe the inabilty of Grier of Duff & Duffer-and his esteemed partners-to recognise what has been a blatant conflict of interest from day one.
And the Ticketus funding-long or short-term—is entirely irrelevant to conflict of interest. All you need to know is that Grier advised Whyte-and was pictured whooping it up with him on Edmiston Drive??—- and subsequent to that his firm is appointed administrator, acting through his other partners.
Being pictured in Edmiston Drive-heaven forbid-would be enough to persuade me to stand down, but these guys are incapable of identifying a conflict of interest even when it is staring them in the face.”